Global stock markets pulled back Monday as traders awaited key earnings reports, notably from chip giant Nvidia, amid concerns that the US Federal Reserve could hold off on further rate cuts this year.

On Wall Street, the Dow retreated 1.2 percent while the tech-heavy Nasdaq lost 0.8 percent. The broader-based S&P 500 slid 0.9 percent.

Europe lacked inspiration too with the DAX closing off 1.2 percent while London and Paris lost marginal ground.

Major Asian indices had earlier finished lower as well amid simmering tensions between China and Japan which hit tourism and retail firms on Tokyo's exchange.

Besides Nvidia, which dropped 1.9 percent, US retailers Home Depot, Target and Walmart are also set to release their earnings reports.

Those will be monitored for signs of how consumers

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